There are some reasons for the epidemic: from March to June, the domestic economy recovered steadily after the epidemic; at the same time, more and more physical businesses are turning their sales online, so are consumers; on the other hand, the second quarter is the traditional peak season of the e-commerce industry, and this quarter is also assisted by “618” marketing activities. However, by comparing the financial reports of various companies, it is found that the growth is the same, but the competition pattern is changing. Jingdong and Ali are fighting each other to form a “siege” situation. Meanwhile, Kwai tiktok and jabby even community group purchase began to invade many positions. Pinduoduo’s “progress” in the second quarter seems to be insufficient to support people’s expectations for its future. < p > < p > according to pinduoduo’s financial report data, in the second quarter, pinduoduo achieved revenue of 12.193 billion yuan, an increase of 67% compared with 7.290 billion yuan in the same period of last year; the net loss attributable to common shareholders was 77.24 million yuan, significantly narrowed compared with the loss of 411 million yuan in the same period of last year. As of June 30, 2020, the annual number of active buyers of the platform has reached 683.2 million, a net increase of 200 million over the same period of last year and a net increase of 55.1 million over the previous quarter, which is the largest single quarter growth since the listing. < / P > < p > in addition, the Gmv of pinduoduo platform reached 1268.7 billion yuan, an increase of 79% compared with 709.1 billion yuan in the same period of last year, while the Gmv growth rate of pinduoduo in the first quarter was 108%, compared with that in the second quarter. < / P > < p > while the growth of user scale reached a new high, the growth rate of total transaction volume (Gmv) slowed down, which showed that the growth rate of customer unit price was slow, and pinduoduo did not improve in the sales of medium and high-end goods, which proved that Ali and Jingdong did well in holding the position. < p > < p > according to Alibaba’s financial report, three months after its launch, the mobile monthly active users (MAU) of Taobao’s special price edition have reached nearly 40 million. Since the beginning of 2019, the sinking market has become an important source of user growth of Alibaba’s e-commerce business, contributing 60% to 70% growth almost every quarter. < / P > < p > take a look at Jingdong. Jingdong has launched a social e-commerce “Jingxi” on wechat, which can be regarded as a highly imitated version of pinduoduo. What’s more, Jingxi’s supply side approach is similar to pinduoduo’s: to industrial belt layout, directly connecting factories and consumers. < p > < p > CEO Xu Lei said that in China, the number and scale of industrial belts are more than 200. In view of the sinking market, Jingdong’s strategy is to adapt the industrial belt products for users. As of the end of the year, the distribution of industries in Beijing and Xiyuan has exceeded 150. The number of businesses in Jingxi industrial belt increased by 550% in the second quarter compared with the first quarter. It is reported that Jingxi will also complete the layout of 100 factory industrial belt bases and 100 agricultural industrial belt bases by the end of the year. < / P > < p > the effect is good. In the second quarter, Jingxi’s new users increased by more than 100% month on month, and 70% of the new users came from Tier 3-6 cities. < p > < p > Xu Lei said, “in the second quarter, Jingdong’s sinking emerging markets achieved remarkable results. New users from the sinking emerging markets accounted for a very high proportion, and Jingxi and Jingdong Express Edition achieved significant results in acquiring new users.” < / P > < p > the comprehensive analysis report of pinduoduo data released by Aurora shows that: the special price e-commerce application users and pinduoduo users are highly overlapped; the coincidence degree of Taobao special price e-commerce users and Jingxi e-commerce users is increasing, and the coincidence degree with pinduoduo users is as high as 85% in June 2020. < / P > < p > but here’s the problem. For a long time, consumers have been shopping for commodities, agricultural products and other products with outstanding cost performance (low price); while high price 3C digital products are Jingdong’s main position, and high-end clothing is Ali’s main position.
is still awesome enough to do more, but competitors are invading its hinterland, and even targeting products that are “highly defensive” and “multi defense”.
, Kwai Chai, Taobao tiktok, live broadcast providers and other similar businesses have been trying to grab more target users and backend supply chains. As various forms of online consumption change in sales channels, video e-commerce is taking up a larger market share, according to the comments of Bloomberg.
tiktok set the GMV target for 2020 to 200 billion, and Kwai is 250 billion yuan. Moreover, Kwai Chung and tiktok are also mainly supporting SMEs and industrial belt merchants. The logic of “direct selling from the source” and “popular special price” coincides with pinduoduo. < / P > < p > at this time, compared with ALI and Jingdong, pinduoduo is still small and has limited progress in the new market. However, more and more competitors are coming to its own position. In the next stage of pinduoduo’s development, there are a lot of uncertainties.
once Kwai Ali, Jingdong, tiktok and jitter are standing on a lot of positions, they will still be able to win the position of Ali or Jingdong or form a competitive competition. < p > < p > in the past six months, 10 billion yuan of financing and M & A have taken place in community group buying raceways. Tencent, Ali and meituan have entered the competition one after another. Pinduoduo started late, but there is no exception. < p > < p > pinduoduo launched the group buying tool “Kuai Tuan Tuan” during the outbreak of the epidemic. Not long ago, it began to spend 1 billion subsidies to recruit large-scale “team leaders”. The Gmv of “Qun Jielong”, which is very similar to that of Kuai Tuan and launched earlier, is 1.2 billion yuan in 2019 and 4 billion yuan in the first half of this year. There is still a lot of space for private traffic to be mined. < / P > < p > seeing such an opportunity, pinduoduo, growing up in the wechat ecosystem, can not be missed. On the one hand, pinduoduo can connect more consumers with the help of kuatuan Tuan, and protect its advantages in agricultural products sales. On the other hand, pinduoduo also has the opportunity to enter the local retail market of Ali and meituan. Chen Lei, the new CEO of pinduoduo, said that agriculture is an industry that reaches the most people. In the future, pinduoduo will further invest in the technology and business of all links of agricultural value chain, so as to accelerate the online retail penetration of agricultural products. The logic behind < / P > < p > is easier to sort out. In the past, agricultural products were usually unstable, nonstandard, and it was difficult to achieve real scale. This has also brought great impact on downstream retail enterprises to do a good job in commercialization, standardization and quality control. This is why pinduoduo, Jingdong and Ali began to enter the rural areas, and they began to control the overall output quality of fruits and vegetables from the source by self operating orchards, exporting digital agricultural technology or signing industrial belts. < / P > < p > moreover, with the increase of the sales proportion of agricultural products in the major e-commerce, controlling the upstream is also what the e-commerce platform has to do in the future retail competition. It can be predicted that more and more standardized supply bases will be signed by various e-commerce platforms. < / P > < p > in the long run, who can really win the community group buying, or even the city retail competition, may depend on who can handle more factories and agricultural product bases. < / P > < p > according to the second quarter financial report, the platform sales and marketing expenses were 9.114 billion yuan, 49% higher than that of 6.104 billion yuan in the same period of last year, and 1.817 billion yuan higher than that of 7.297 billion yuan in the first quarter. However, with the expansion of the “10 billion subsidy”, the unit price per customer has not increased significantly. Ma Jing, CFO of pinduoduo, explained at the financial report meeting: “we also notice that the amount of consumer spending has indeed decreased. Pinduoduo chose a differentiated subsidy strategy. In the second quarter, other enterprises in the industry carried out a very radical subsidy policy on 3C category. We chose daily necessities, which are good categories to enhance user stickiness, and the purchase frequency of daily necessities is higher than that of electronic products. ” < / P > < p > it can be seen that when the subsidy of 10 billion yuan is weakened, pinduoduo still fails to maintain its high-end brand. This more or less declares pinduoduo’s “failure” in exploring the direction of selling high-priced products. They still haven’t found a good way. < / P > < p > the farce of pinduoduo and Tesla refusing to deliver a car is also a manifestation of this problem. Pinduoduo’s sales strategy is to create a blockbuster, with more sales to reduce cost and gross profit. Pinduoduo has always attached great importance to the price advantage, which has been doomed that at a certain stage, the platform itself will pay more attention to the experience of consumers than the experience of brands. Especially in the face of competition for brands between e-commerce platforms and even the pressure of “choose one from two”, this flexible “fight” really seems to be an effective method. However, when pinduoduo has gradually become an e-commerce platform that can not be ignored, the next ultimate challenge is to explore the possibility of win-win with high premium brands. < p > < p > pinduoduo is also trying. Not long ago, pinduoduo launched a wechat app called “Duochao”, which aims to share fashion goods and wear in a community. < / P > < p > previously, pinduoduo launched the “fashion shoes player day” online, and created a “Duochao shoes hall” in its app to trade fashion goods. As you can see, pinduoduo is trying to expand its borders. However, just as there are two sets of different sales logic between high-end products and cost-effective products, chaoplay also has its own logic, which contradicts the logic of pinduoduo’s “blockbuster”. < / P > < p > how to find a suitable way to sell high premium commodities is a long-term proposition for pinduoduo. In the short term, at least, we haven’t found a reasonable answer. < / P > < p > while Ali and Jingdong have been trying to increase the unit price of goods and emphasize the upgrading of consumption, pinduoduo gives another response, playing the role of price butcher, benefiting consumers. Whether it is the users of low-level cities or the middle class, they need to make more efforts to develop for a longer time. However, it is a challenge that pinduoduo is facing at the moment, that is, how to keep its position while looking for high-end and new growth points.